Centennial Wealth Advisory LLC Raises Stock Position in Regions Financial Co. (NYSE:RF)

Centennial Wealth Advisory LLC increased its stake in Regions Financial Co. (NYSE:RF) by 3.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 19,054 shares of the bank’s stock after acquiring an additional 675 shares during the quarter. Centennial Wealth Advisory LLC’s holdings in Regions Financial were worth $445,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RF. Allspring Global Investments Holdings LLC boosted its position in shares of Regions Financial by 13.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 8,625,734 shares of the bank’s stock valued at $201,238,000 after acquiring an additional 1,014,706 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Regions Financial by 7.4% during the second quarter. Dimensional Fund Advisors LP now owns 14,252,693 shares of the bank’s stock worth $285,562,000 after purchasing an additional 979,597 shares in the last quarter. Swedbank AB acquired a new stake in shares of Regions Financial during the first quarter worth about $19,322,000. Russell Investments Group Ltd. increased its stake in shares of Regions Financial by 30.9% during the first quarter. Russell Investments Group Ltd. now owns 2,577,350 shares of the bank’s stock worth $54,184,000 after buying an additional 607,799 shares during the period. Finally, AE Wealth Management LLC increased its stake in shares of Regions Financial by 1,533.3% during the second quarter. AE Wealth Management LLC now owns 645,659 shares of the bank’s stock worth $12,939,000 after buying an additional 606,129 shares during the period. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Regions Financial Stock Up 7.6 %

Shares of RF traded up $1.80 during trading on Wednesday, reaching $25.42. The company’s stock had a trading volume of 1,857,501 shares, compared to its average volume of 7,868,029. The company has a fifty day moving average of $23.12 and a two-hundred day moving average of $21.24. Regions Financial Co. has a twelve month low of $14.86 and a twelve month high of $25.67. The company has a market cap of $23.26 billion, a price-to-earnings ratio of 13.34, a P/E/G ratio of 2.47 and a beta of 1.16. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.35.

Regions Financial (NYSE:RF) last announced its earnings results on Friday, October 18th. The bank reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). Regions Financial had a net margin of 18.78% and a return on equity of 12.60%. The business had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same period in the previous year, the company earned $0.49 earnings per share. The business’s revenue for the quarter was down 3.7% on a year-over-year basis. On average, sell-side analysts predict that Regions Financial Co. will post 2.1 EPS for the current fiscal year.

Regions Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a yield of 3.93%. Regions Financial’s payout ratio is currently 56.50%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on RF shares. Stephens upgraded shares of Regions Financial from an “equal weight” rating to an “overweight” rating and set a $26.00 price target on the stock in a research note on Tuesday, October 29th. Wells Fargo & Company raised their target price on Regions Financial from $22.00 to $24.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Wedbush raised their target price on Regions Financial from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Bank of America raised their target price on Regions Financial from $22.00 to $25.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Finally, Royal Bank of Canada raised their target price on Regions Financial from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $25.45.

Regions Financial Company Profile

Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers. It operates through three segments: Corporate Bank, Consumer Bank, and Wealth Management. The Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending; equipment lease financing; deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.